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Bitcoin Holds Above $89K With Supply Resistance at $95K and Support at $80K-$82K, QCP Says

Bitcoin traded above $89,000 on Nov. 27 as markets priced in an 85% probability of a December rate cut, QCP said in its daily analysis. The firm noted mixed macroeconomic signals, including elevated inflation and weakening labor data ahead of this week's jobless claims and ADP employment reports, while credit default swap spreads for AI and tech stocks widened amid concerns over Nvidia's rising receivables and inventory. Bitcoin spot ETFs recorded consecutive net outflows, and MicroStrategy's holdings neared breakeven as its stock faced potential removal from the MSCI index watchlist. QCP identified significant supply resistance for Bitcoin in the mid-$95,000 range, with the $80,000-$82,000 zone as critical support.
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